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Financial and Economic Brief - July 1, 2021

The Decline of Lumber Prices – How Will it Affect Home Prices?

The price of lumber futures has dropped dramatically over the past few months. Some forecasters believe that it may be a foreshadowing of a readjust or decline in the cost of homebuilding and home buying. The fight to buy a home in many suburban markets has led to offering prices exceeding the potential market value of a home. In previous decades, whenever there has been an increased demand for housing followed by bidding wars for very desirable properties, bubbles have been created. Unquestionably, a housing bubble may be followed by a burst.

Businesses are Faced with a Labor Shortage – Is it Temporary or Long-Term?

It would have been almost impossible to predict the hiring dilemma that many large corporations and small businesses currently face, post Covid-19 Pandemic. And, there seems to be no accurate consensus about the reasons why workers are not enthusiastically returning to the workplace. Some suggest that the benefits paid out to workers to stay home were so rich that there has been little incentive to return to work. Others, have indicated that working parents have had complications in scheduling due to rearranged school periods. Whatever the reasoning, the American economy, in order to grow, requires a sufficient number of workers who are both capable and well trained.

The Federal Ban on Evictions and Foreclosures is Scheduled to End on July 31, 2021

Evictions and foreclosures only affect a relatively small percentage of the American population. However, the effect of losing one’s home frequently has a negative impact on local communities. This is because many of those people face homelessness which increases the need for human services across a larger segment of a community. Those services are expensive. The Federal government under the Emergency Rental Assistance (ERA) program has made $46 billion of aid available to renters. But the program is quickly ending and many in government are scrambling for a reasonable alternative that will carry on for an extended period of time.

by © Liberty Publishing, Inc.

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